IMF Staff Country Reports

Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note

Publication Date:

July 31, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Joint Staff Advisory Note (JSAN) reviews the first Annual Progress Report (APR) on Somalia’s Ninth National Development Plan (NDP9).1 NDP9 is a nationally owned and comprehensive strategy for poverty reduction and inclusive growth. It covers 2020–2024 and is organized around the four pillars: Inclusive Politics, Security and the Rule of Law, Economic Development and Social Development . NDP9 was submitted to the IMF and World Bank on October 15, 2019, to fulfill the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative’s poverty reduction strategy requirement. The first Annual Progress Report (APR) was received by the World Bank and the IMF in June 2022. It describes the progress of the Federal Government of Somali (FGS) in implementing the first year of the NDP9, i.e., in 2020. The government is in the process of preparing the midterm review of NDP9, which will serve as APR for 2021 and 2022.

Series:

Country Report No. 2023/287

Subject:

Budget planning and preparation Expenditure International organization Monetary policy Poverty Poverty reduction strategy Public financial management (PFM)

Frequency:

regular